the same thing in china just this week then you look at india oh india that was booming like crazy well their economy just grew a little over five percent down from nine percent a year ago look at brazil now the government is saying this central bank that this is going to be the first time since zero nine that the brazilian economy declines and put it all together europe is china's biggest importer of product us number two we're in a slump if the united states and europe don't buy china india indonesia vietnam they don't make if they're not making brazil. chill way bolivia all the natural resource countries they don't export this is a global crisis that's remember we're talking about greece today what's greece two percent of the eurozone and now tomorrow it's going to be spain next week it's

going to be italy a couple weeks later the u.s. say go back to last organized remember they downgraded the dead here yeah absolutely. and we're coming up to another debt ceiling debate so you're pointing to this cascading effect if it's not greece is just going to be someone bigger tomorrow to steal the headlines with this same problem on top of that we have this global slowdown that you're talking about plenty of bad news to be worried about i mean in terms of the euro zone spain on monday will request formally its bailout now there's discussion again of directly bailing out the banks so that it doesn't go through spain so that spanish borrowing costs don't become unsustainable so it's just one thing after another kicking the can down the road to use a total cliche but but it does summarize what's happening so what is someone to do to protect themselves from an investment standpoint i know you're still bullish on gold. you know again i don't give investment advice i keep buying gold friend of mine has a great strategy he. boyes gold every month gold and silver he buys

a little every month that equals out why would anybody get into the dollar what's so great about the dollar as i look at it as i say you know getting out of the euro it into the dollar is like jumping out of the lusitania to save take save board boards on the titanic no this thing is going down it's a global crisis look at the numbers again you go through this week's data it whether it's housing whether it's employment you name the numbers they're terrible there's no way out and they gave it their best shot you know the numbers what do they dump in the say that that number is like white twenty something trillion since two thousand and eight and the best they've been able to do is is to make it not a lot worse there's no way out is i keep saying we're talking about the banking crisis we're talking about europe we're talking about you know composite purchasing managers index let's talk about what's going on with the people remember them you

know the twenty five percent didn't spend it don't have any work the fifty percent unemployment rate among the youth to twenty three percent unemployment rate in greece the over ten percent unemployment rate in italy you're going to see social unrest at levels we have never seen in our lifetime and to that note something like an exit of greece or or something like that that could bring the kind of social unrest that we haven't seen yet i know you think we could see social unrest in the u.s. two one quick note on gold because you mentioned last august with the debt ceiling debate and a downgrade also last august we saw gold hitting some record numbers and trading at some record prices i'm curious if you think as we've seen gold come back down to the level that it was trading at about this time last year do you think we'll see it rise as we did last summer into fall and maybe then hit that two thousand dollar an ounce mark it could very well here's why i don't be. this is

a gold bubble that's burst i began buying gold in one nine hundred seventy eight before you were born barely. the it was a different world back then china was behind the bamboo curtain russia was doing everything east of berlin was behind the iron curtain there was no global trade it was only the united states basically boy gold now you have the whole world boy gold you had bank runs in europe who in their right mind would be holding on to paper as i see it so this is not a bubble it's very different you have an entire world that's worried about the finances of what's going on so i pulled by the way this summer is a very important climb as a trend forecaster because people are in a vacation state of mind and they missed the nuances of what's going on and i remember one summer when gold skyrocketed back in the late seventy's we could have that kind of scenario again because this thing is unfolding and let's face it they

don't have the answers they don't know what to do because if they did they would have done it a long time ago they can fix it and i believe gold prices are going to continue to escalate and i am of the camp that says two thousand and above all right well when we come back and we'll leave our audience with that prediction we do want to talk a little bit about the people that are trying to be elected to pretend maybe in your view to fix the problems that you say can't be fixed i want to talk politics when we get back so we'll have more with gerald celente founder of trans research institute and publisher of the trends journal in just a minute and still ahead you've responded now all answer check out if your comment caught my eye this week and viewer feedback you won't want to miss it but first their closing market numbers.

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a client of american power continues. things are so bad. might actually be time for a revolution. and it turns out that a particular drink at starbucks has a surprising. drives the world the fear mongering used by politicians who makes decisions to break through it's already been made can you trust no one who is able to deal with. the

global reach where we had a state controlled capital city school sessions when nobody dares to ask we do our tea question more. welcome back before the break we were talking about europe let's talk about responses to europe from u.s. presidential candidates or their proxies mitt romney's economic adviser recently wrote an op ed in a german newspaper applauding germany's austerity measures advising germany not to bail out greece and on the other side larry summers who worked for the obama administration was one of obama's advisors in that his presidency early on in response are not exactly a response but in similar timing in the washington post wrote his own op ed

proposing of course the opposite a bailout and massive spending plan for europe so is this at the end of the day just political election year strategy disguised as economic analysis and economic advice and what does that do for the presidential hopefuls we're going to talk about it also while we're on them we know that mitt romney is a little weird we know that maybe americans have a hard time relating to him for evidence just look at his saturday night live version of his sons let's watch that. well we connect with the younger voters are over thirty six median age is thirty five we like the same things as young people such as sport. do. you. whether or not they're just like you america you can

decide but there has been an argument that when it comes to candidates on either side of the aisle they are just like each other and that at the end of the day they're both bought by corporate interests but my question for our guest is mitt romney has got a lot more wall street cash this time around so why would we have a different kind of presidency with mitt romney versus an obama second term so gerald celente is going to weigh and he is transformed caster extraordinary and gerald let's talk politics because this is more your forte than mine so i want to know to start off with these ads on both sides democrats and republicans you know at the end of the day is this just politics because if europe tanks that's bad for obama good for romney if europe prevails that is good for obama could be bad for romney is that behind these. well you know you know the american people could care less about any presidential candidate blaming the problems that home on europe

they're minute it's not europe is much bigger than that as i said and i love it every time you know why why does anybody listen to larry summers you look back at his track record when he was running you know the economic division when he was with the obama administration and to virtually everything he said has not come to pass all his policies of failed but excuse me every time i say larry summers i have to put brilliant either before during or after you say his name because after all that's what the press the toots call him the brilliant larry summers as for romney talking about was scary measures and telling the germans this brilliant and that is great shot was that if the u.s. scary he measures now not the high inflation you are scared he measures imposed upon the germans following the high inflation that brought inhaler brilliant strategy and probably very apropos for

romney so no this is just a lot of political job and i would for the record i'm a political atheist i don't believe in anybody's political gods and to me it's a two headed one party system whoever wins. we lose ok and i know that you're a political atheist and you've said that many times before that this is a two headed whatever you just that much but i too added monster with one body or something not a fact but along those lines we have seen mitt romney get a lot more wall street cash this time around then then we saw president obama get last time obama gotten a lot of campaign cash from wall street in two thousand and eight when he was campaigning so my question to you when we see a different president with or are with regards to finance depending on who's elected not at all because look what's happened on the obama on the obama

administration since the panic of oh wait you know watered down dodd frank nothing's really changed you know look at the deals that they gave the banks with fixing that you know that mortgage crisis or you remember robo signers like a robot did it look at look at what laurie tell me one head the wall street since the obama administration's been all the the justice department has been drilling you have people like roger clegg. has seen john cause zein be brought up on charges if they're bringing down m.f. global hey couldn't be because he was a big bundler for obama now it's just a little different again it's all the same yeah i agree obama's been wimpy on wall street but i guess what i'm asking is would it be worth with mitt romney i don't think so i think you'll be just as bad and you know this because you have congress and they're all in it together it's not going to change much what could become much

worse how much worse could romney make it than obama in terms of helping out his wall street bodies is he going to give them more money yet just like obama would if we have another financial crisis you'll see the fed dump more dough into it so i don't think it will be much of a difference and you mentioned congress i have to ask you because. tween the last time i spoke with you and now we've seen jamie di men on the hill twice and if you want to get have any kind of evidence that would make you feel like no one has a political will to go after wall street just watch politicians pretty much like lining up to praise jamie diamond so i'm just wondering if you have any thoughts there about if we're ever going to see any justice when you watch the kind of political theater we saw there know the word justice is being misspelled every american that said any minor infraction knows it's j u.s.t. us just us oh now they even rolling out that guy lloyd do we gods worth blankfein and i saw that morning joe guys suck up to say how wonderful lee was oh

yeah they're just great love the bankers oh yeah and so no it's all one club that's what i'm trying to say it's like a it's like aleck thing it's like electing the president of the country club in two thousand and twelve really build swimming pools or will we expand the tennis courts . i think they will probably judging the spending habits of washington and wall street want to do both i appreciate you being on the show gerald to level with everyone and thanks again that's gerald celente founder and trans research institute and publisher of the trends journal have a great weekend you too thank you.

all right it's friday so let's wrap up with your feedback let's take it from wednesday jim rickards was on the show he was talking about pretty much everything operation twist the fed gold fort knox jamie diamond europe and who he calls the institutionalized rent seekers who have attached themselves like parasites to democrats and to the republican party respectively take a listen around secret someone who figures out a way to manipulate the system to assure a quo for themselves but they give very little back or give nothing back so they actually destroy well for society. so he identified public sector unions as the rent seekers for democrats and wall street as the rent seekers for republicans original prisoner x. said on you tube if people believe what almost all that is all economists left

right and in between understand that wages have either stagnated or decreased for the past thirty years then how is it that union workers are making too much money and besides unions only account for eleven percent of the total workforce in the country and let's get it straight trade unions and government unions are not the same thing trade unions contain competitive entities government unions have no competition internally different not the same well that touches on an important point that i want to make sure people are clear on when they think of this workers interview because workers was talking specifically about public sector unions and in two thousand and eleven union public sector workers had a membership rate of thirty seven percent so much greater than the private sector five times higher in fact which comes in at six point nine percent that are members of unions according to government figures and the connection that he draws to wall street between unions and wall street to clarify is this something that in fact you touch on original prisoner x. which is that both public sector unions and wall street banks thrive on government

subsidies and lack of competition so i just wanted to make sure that was all clear and on that note balderdash one wrote i'd be very interested to hear what the difference in the amounts of money that public sector unions are taking out of the economy compared to wall street not even close to the same ballpark i'll bet it's hard to know what's being extracted but if you want to look at the top five contributors in public employee unions and finance which is together with insurance and real estate from open secrets which is the center for responsive politics you can see there how they compare so when you're looking at the top five you're looking at not a huge difference in terms of the dollar amounts but what you will see when you get more into big picture of the lobbying contributions to panic. it does look from my assessment like wall street spends a lot more but i encourage you to go to open secrets and check it out for yourself because the numbers are all there and yesterday we compared central bankers united in the liquidity attack to wall tron that i guess is

a comic book guy or cartoon from some time past we called the defender of inflation and john lane wrote to tell us a point of clarification was a force for good thank you we would never want to defame bull tron in that way in our use he is a defender of bad but we we are setting the record straight he was a good guy according to our viewer and now a few notes on the ongoing saga of me and often shannon versus dimitri and loose change here is just one example from this week. capital washington has the highest lifestyle for the intelligence level because people here are really just. but they're not alone. so they get here and you have to do your dimitri i'm here but i'm sure your home does this mean that your intellect is subpar compared to the rest of the country no i don't think shorts are grammar down the middle oh all right we'll leave the audience to decide. well an earlier episode

prompted mark maleng to tweet to cover in delta that's dimitri that you need to toughen up lauren eats your lunch at the end of every show arc thank you for calling it like it is in my opinion dimitri though don't you worry some viewers do have your back remember i asked him to weigh and i ask you guys to weigh in about dmitri intellectual assessment at the end of the show i just sat and high and wired said only intelligent people say they are right down the middle so we'll get dimitri that and we will give you our wishes for a wonderful weekend that is our show that's all we have time for thanks so much for watching and be sure to come back next week and in the meantime you know you can always follow me on twitter at lauren lyster and give us feedback on the show and had any you missed you tube dot com slash capital account and you can see is the h.d. on hulu at hulu dot com slash capital dhaka countermeasure right here thanks for watching have a great. you

know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything you thought you knew you don't know i'm tom parker is a big. green i'm a jury's see round trip with the open air entertainment. a little bit of

that just signs to get in better shape. i and cuisine with all my healthy ingredients. and this goes something to me mug our summer sales on our cheek. but. i am.

so there could be animal planet there could be. dry wall construction and all that stuff gone. mitt romney soaked up the spotlight at last night's r n c convention week while just a few short miles away one of the poorest towns in florida goes unnoticed we'll show you a side of town all those media cameras overlooked. but it's no question wiki leaks founder julian assange has a message and he's willing to go great lengths to spread it this time speaking out to a venezuelan television station about his extradition limbo and update ahead. and at the latest case of subjective journalism turns out the new york times sought approval from the cia in order to write a critical piece about president obama r t asks if there is such

a thing as objective journalism these days. it's friday august thirty first five pm here in washington d.c. i'm liz wahl and you're watching r.t. . always on the media descend on tampa with full force for the republican national convention and for the most part what we saw in tampa was a picture of a city in the sunshine state but that's not the full picture the reality is almost twenty percent of the population in tampa lives below the poverty line that's significantly higher than the thirteen point eight percent national average and according to the national alliance and homelessness tampa's the city with the highest rate of homelessness in the country many of the homeless in tampa have described more pressure and hostility from police during the r. and c. are the correspondent christine ventured into the heart of tampa beyond the

convention center glitz. nancy and lee marian have been running this manufactured homes community for about seven years now so we moved down from and then michigan. and just seem like the economy got worse up there before down here and when it did they say they recognize the signs immediately cost of living going up to people losing jobs. we saw that quite a bit up there before we left and then here we had a couple years before that that started as much and then we had several residents and things like that that went through that in a city made up primarily of communities that look like this the marion's in many ways have a front row seat to what's been unfolding we see more people downsizing from their big homes move in and manufactured home community to start over basically a cheaper affordable way to live and now they're basically getting out of their big

expensive homes and just trying to stay afloat located less than fifteen miles from downtown tampa phenomena south of florida has seen the single biggest jump in people living at or below the poverty rate across the entire state of florida it is a snapshot of a growing trend nationwide and the poverty rate in rural and suburban areas growing exponentially it's in a class the brookings institution classifies as extreme poverty jumping from fifteen percent to forty percent between two thousand and two thousand and ten tom kingsley a senior fellow with the urban institute says the entire sun belt has been suffering the percentage of all mortgages that were seriously distressed that means that they were ninety days delinquent or more or in foreclosure in. austin texas was about six percent in miami it was twenty six for. just not the mayor not a life time thing known assassin resident darryl minnow says jobs here are scarce

and for many with no access to transportation this is a portrait of everyday life it's sad i mean there used to be animal clinics very to be. dry wall construction and all that stuff gone but i don't know why it's a trend expected to continue in cities across america if serious changes aren't made pushing the poor further and further out of cities and into rural areas with fewer services and opportunities but one for now that's keeping some communities like this one afloat in the known assassin florida christine for south r.t. for more on what happens beyond the convention center glass i was joined by r.t. correspondent christine presell take a look. when you talk about the media descending on downtown tampa of course we were part of that group of people who came in but you don't have to drive far to

see such a different picture and we showed that a little earlier in the week in our report of those who are sleeping you know in the parking lot in what they call romney ville but this is actual real life not a protest where we went to known assassin florida and it's really really interesting because of how fast it's changed now it was never sort of a well to do area but the number of people unemployed the number of people living below the poverty rate has skyrocketed just in the last decade and those who i spoke to who live there their entire lives said they're seeing it and they're feeling it and when you talk about cities like the notices as i mentioned this is just a snapshot of a larger trend going on nationwide of these cities not far from a main downtown hub but so many of these people have no way of getting there there's no transportation that part of the city doesn't have you know didn't get any funding from the state to get buses to go through so the problem is that even

if you want to job even if you're able to work but you can't afford to move out of your home there's nowhere for you to get there's no way for you to get to a lot of these places so just really interesting to take a look at this place as you saw the entire city basically made up of these mobile home parks there is a lake a little further we weren't able to find some of the residents were telling me that there were some expensive homes on the lake but that was really at their portrait of life was this small city that so many of them could not get out of you know and they were stuck there and you talked about in your report this interesting trend of the poor being pushed out of these urban hobbs' from the cities into rural areas you talk more about that yeah there's actually a name for that some people call it the suburbanization of poverty and you know in some cases that we think of these cities you know downtown see the areas of cities and you know people.